10-K · February 18, 2026
CVR Energy presents a cyclical, commodity-exposed business organized around three operating segments: Petroleum, Renewables and Nitrogen Fertilizer, and emphasizes capital projects (turnarounds, alkylation expansion,…
Earnings analysis · 10-Q
CVI earnings analysis
Filed April 29, 2026 · Our reading of the company's report
The latest report
CVR Energy's Q1 2026 results show a revenue of $1.98 billion, surpassing estimates of $1.77 billion. However, the company reported a loss per share of -$1.24, significantly below the expected -$0.61. EBITDA improved to…
Read full summary
CVR Energy's Q1 2026 results show a revenue of $1.98 billion, surpassing estimates of $1.77 billion. However, the company reported a loss per share of -$1.24, significantly below the expected -$0.61. EBITDA improved to $37 million compared to $24 million in Q1 2025, showcasing operational resilience amidst geopolitical pressures affecting commodity prices.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.24
- Segment
- Petroleum
- Segment
- Nitrogen Fertilizer
What stood out
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Revenue Exceeds Estimates
Actual revenue reached $1.98 billion, beating the consensus estimate of $1.77 billion by 12.3%.
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Improved EBITDA
Adjusted EBITDA stood at $37 million, a significant increase from $24 million in the same quarter last year.
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Cash Dividend Declared
The company declared a cash dividend of $0.10 per share, signaling commitment to shareholder returns.
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Segment Restructuring
The renewable diesel unit has been reverted back to hydrocarbon processing, reflecting strategic realignment.
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Ongoing Operational Projects
Capital investment projects in the Petroleum Segment aim to enhance profitability and operational reliability.
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Positive Segment Outlook
Management anticipates continued improvement in margins from petroleum and fertilizer segments.
What to watch
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Heightened Geopolitical Risks
The ongoing Iran War has led to increased volatility in energy prices and disruptions in supply chains.
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Regulatory Compliance Costs
An estimated liability of $204 million for RFS compliance through Q1 2026 could impact financials.
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Potential Market Volatility
Fluctuations in global crude oil markets influenced by geopolitical developments may affect operations.
Management's outlook
Guidance for Q2 2026 projects revenue between $2.0 billion and $2.15 billion with throughput estimates in the petroleum segment of 200,000 to 215,000 bpd.
Earlier filings 4
10-Q · October 30, 2025
CVR Energy reported a strong Q3 2025 with net sales of $1,944 million and operating income of $512 million, reversing prior-year losses and producing diluted EPS of $3.72. The quarter was supported by improved margins…
10-K · February 19, 2025
CVR Energy, Inc. continues to face challenges in its petroleum refining and marketing business amidst volatile crude oil prices and increasing operational costs, impacting margins. However, the recent quarterly…
10-Q · July 30, 2024
CVR Energy reported Q2 net sales of $1,967 million (down $269 million, -12.0% vs Q2 2023's $2,236 million) and operating income of $27 million (vs $224 million in Q2 2023). Gross margin compressed to 2.9% and diluted…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.